Companies use AI and the Internet of Things to go Green and Save Money

Many companies go green not only to improve their public image but also to save money. Now artificial intelligence (AI) and the internet of things (IoT) can help companies manage their green initiatives like predictive maintenance, waste reduction, energy efficiency, in order to do both.

Since IoT can be used at the circuit level to collect data about a system performance in more detail than traditional monitoring systems, much more data about its operation is produced and therefore AI is also necessary to analyze and interpret said data in a timely manner. Not only that but AI can also automate certain functions to save energy without extra efforts, like making adjustments to climate control and lighting to save energy.

IoT can provide real time data and historical information of conditions across a network, tracking things like uptime, temperature, pressure and energy usage. Such an early warning system can also aid preventative maintenance and reduce down time from a problem occurring that affects productivity.

“What sets IoT apart from other communications technologies is the way this global network of physical objects automatically collects and communicates data from the real world,” says Safi Oranski, head of IoT for Panoramic Power.

At the same time, machine-learning AI is needed to sort through the data provided to help decision makers contextualize the information provided by IoT.

“For every device connected to the system, the machine learning algorithms start watching it for a couple weeks and learn that behavior,” Oranski said. “It registers specific key performance indicators relevant to the device, things like working hours, idle hours, off duty, starts stops.”

Once the AI knows what the expected performance level is meant to be any deviance is immediately flagged for attention and can be addressed by humans as soon as possible.

“I believe all major companies will ultimately deploy IoT in some way at some point in the next few years,” Oranski adds. “The technology is available at a reasonable cost with proven ROIs.”

For all the good being environmentally conscious does a company’s image, the environment, and their financial bottom line, the truth is that the future will require using the technologies of AI and IoT to stay competitive.

“These are often things that change based on circumstance,” Oranski explains. “[These systems] alert people of opportunities to save or do things differently, but they actually need to make those decisions. But the more that people trust machines and algorithms, the more they will be inclined to let them make their own decisions.”